An Overview of Export Sector of Bangladesh

Published: 2021-09-11 11:55:10
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This report focused on type of products we are exporting , Export analysis of agricultural products, frozen food, tea, raw jute, opportunities, export earnings from these sectors, export analysis on industrial goods, export orientation of petroleum products, export orientation of engineering products, limitations and opportunities of our export policy, entire review of our export performance and many more.
According to our analysis we found, Agricultural product is one of the most important export sectors of Bangladesh which contributes about 23% GDP in our economy. Frozen food, having $500 on average as export earning which is the second largest export sector of the economy of Bangladesh. Further, Bangladesh is an old competitor in the world’s tea market having a long culture of 150 years. About 65% of its production of tea is exported. Furthermore, Bangladesh is the world’s largest producer of jute that produces around 5. 5 million bales of jute each year.
At the same time, it earns nearly $350 million annually by exporting raw jute and jute goods of which more than 20 percent comes from Germany. Ready-Made Garments (RMG) sector is the biggest earner of foreign currency of Bangladesh. The RMG sector contributes around 75 percent to the total export earnings. This sector contributes around 13 percent to our GDP. Woven garments and Knitwear are the most important section of this RMG sector. In 2007, Bangladesh’s share 3. 05% for woven articles in the world RMG exports while knitwear shares 38. 12% of the export earnings of RMG sector.
Further, leather sector is one of the flourishing export sectors of Bangladesh which produces around 2-3% of the world’s leather. Bangladesh is earning about 400 million foreign currencies from the leather sector that is one of the fourth promising sectors from foreign currency earning. Besides Bangladesh exports Hessian Cloths, Hessian Bags, Hessian Sheets, Jute Bags, Gunny Bags, Jute Sacks, Jute Yarn, Jute Twine, Jute Carpet Backing Cloths, Jute Caddies, Jute thread waste, showpieces, sandals, wall-mats, handmade carpets, handicrafts, doormats, saris, jute-made fabrics, toys and essential things of kitchen etc. hat contributes around 4. 68 percent in export earnings.
Bangladeshi drug makers are now exporting medicines to 72 countries across the globe- mainly to the poor African and Asian nations which indicates there is a clear opportunity for Bangladesh to flourish in pharmaceutical sector also. We also found via our analysis that there has also a major contribution of EPZ in the export sector of Bangladesh . Bangladesh has eight export processing zone having about 325 export based manufacturing industries. At the same time, those EPZ has contributed about $20,648. 92 million in the export sector of Bangladesh in the last fiscal year.

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